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Capitalize on Easing Banking Regulations: Provide Better Service with a Compliant Discretionary Overdraft Program

Posted by Jeff Harper, President, BSG Financial Group on Feb 6, 2018 9:08:36 AM

A year ago, President Trump signed an executive order that directed agencies to identify two regulations to cut for every new one they intended to issue. We're 37 days into 2018 and it appears the president is keeping his word: “In our drive to make Washington accountable, we have eliminated more regulations in our first year than any administration in history of our country,” Trump said during his State of the Union speech last week.

Even the most cynical nay-sayer should feel positive about this changing regulatory climate.

We are especially encouraged with regard to the future of automated overdraft programs for several reasons:

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Topics: Compliance, CFPB, Overdraft Management

What Has Your Overdraft Provider Done for You Lately?

Posted by Jeff Harper, President, BSG Financial Group on Feb 27, 2017 11:46:51 AM

Webinar Will Provide a 'Road Map' for Financial Institutions to Assess the Performance of Their Overdraft Service Provider Using Key Metrics 

Over the past 20 years most financial institutions have partnered with a third-party overdraft provider. However, much has changed in those twenty years, and far too many programs are running on ‘auto-pilot.'

There are many opportunities to improve compliance, income and service with regard to overdraft management. If your overdraft management provider hasn’t communicated these to you or enhanced its software, then you have to ask yourself, ‘What has my provider done for me lately?'

BSG Financial Group will host a webinar called, "What Has Your Overdraft Provider Done for You Lately?" on Thursday, March 9 at 2 pm EST that will help you answer that question.

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Topics: Webinar, Overdraft Provider, Overdraft Management

Dynamic vs. fixed overdraft limits: And the winner is…?

Posted by Jeff Harper, President, BSG Financial Group on Jun 21, 2016 10:25:07 AM

In this corner… the Contender, Fixed Limits, challenging the formidable upstart, Dynamic Overdraft Limits….

Indeed it may seem like you’re in a boxing match when deciding which type of overdraft limits you will offer in your automated discretionary overdraft program.

Both types of limit-setting strategies enable your institution to automatically allow or disallow overdrafts for those account holders who utilize your service.

The Contender:
FIXED LIMITS provide a “one-size-fits-all” approach that is determined at account opening. All account holders who qualify to be in the program, receive the same overdraft limit; OR the limit varies based on account type (i.e., $550 for Free Checking and $750 for Premier Checking).

The Challenger:
DYNAMIC LIMITS are calculated automatically based on a myriad of account holder data points, including specific deposit and overdraft activity, related balances and more. This data enables your institution to establish a risk profile for each account and assign individualized overdraft limits based on the account holder’s ability to repay the overdraft and fees at any given time.

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Topics: Overdraft Compliance, Overdraft Management, Dynamic Overdraft Limits

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